◆Unit 3 Function of Money.ppt

Unit 3 Function of Money — Medium of Exchange Structure Comparison of barter and exchange with money as the medium Para1: lead-in para2-3: barter evaluation Para4: exchange with money as the medium evaluation Para5: function of money Criteria for a commodity to function as money story of money: para 6 Comparison benefits of Money The use of money as a medium of exchange promotes economic efficiency by eliminating much of the time (spent in exchanging goods and services). eliminate: get rid of; remove 去除；消除 去伪存真 eliminate the false and retain the true 利用货币作为交易媒介，省去了(商品和服务交易所需的)大量时间，从而提高了经济效率。 To see why, let’s look at a barter economy, one without money, in which goods and services are exchanged directly for other goods and services. barter economy: 物物交换经济 考察物物交换经济，即一种不存在货币，商品和服务直接进行交换的经济，就可以看出这一点。 * Passage 2 Take the case of Mr. Liu, the Economics Professor, who can do just one thing well: give brilliant economics lectures. brilliant: superb; wonderful 超群的；杰出的 独奏演员进行了卓越的表演. The soloist gave a brilliant performance. 以经济学教授刘先生为例，他只擅长于一件事，即把经济学这门课程讲授得异常精彩。 In a barter economy, if Mr. Liu wants to eat, he must find a farmer who not only produces the food he likes but also wants to learn economics. 在物物交换经济中，如果刘先生想填饱肚子，就必须找到这样一个农场主，他不仅生产刘先生所喜爱的食物，而且想学习经济学。 As you might expect, this search will be difficult and time-consuming, and Mr. Liu may spend more time looking for such an economics-hungry farmer than he will teach. time-consuming: 耗费时间的,旷日持久的 economics-hungry: 渴望学经济学的 -hungry/ -thirsty: 渴求…的 eg. money-hungry; knowledge-thirsty 你可以预料到，这个寻找过程将会十分艰难而且颇费时日。刘先生为寻找这位渴求经济学知识的农场主所耗费的时间可能要比他用于教学的时间多 。 It is even possible that he will have to quit lecturing and go into farming himself. Even so, he may still starve to death. go into 从事 eg. go into business 他甚至可能不得不停止授课，亲自耕种。即便如此，他仍可能饿死